Sceye Secures Funds in Series C Round Led by Mawarid Holding Company

Sceye Valued at $525 Million and Poised for 2025 Commercial Launch 

PARIS, Sept. 17, 2024 /PRNewswire/ -- At World Space Business Week (WSBW) today, Sceye, a leading U.S. aerospace company specializing in High-Altitude Platform Systems (HAPS), announced the successful closing of its Series C funding round. The round was led by Mawarid Holding Company ("Mawarid"), a prominent Saudi corporation with an established presence in information and communication technology, satellite, and digital solutions. 

Sceye strengthened its balance sheet by closing the Series C funding round, which values the Company at a pre-money valuation of $525 million. This provides sufficient liquidity to fund R&D activities, flight programs and launch the initial commercial operations in 2025.

This strategic alliance continues Sceye's successful partnership strategy, following América Móvil's involvement as the largest investor in their Series B round with a focus on Latin America.

"The Series C round is a critical milestone for Sceye. These funds will accelerate our platform development and commercial roadmap, paving the way for the commercialization of our HAPS technology in 2025. Our partnership with Mawarid opens new territories and market opportunities for our innovative solutions," said Mikkel Vestergaard Frandsen, CEO and Founder of Sceye. 

Ghassan Itani, Assistant Chairman of Mawarid, added, "This partnership reinforces Mawarid's commitment to pioneering technology advancements and delivering digital solutions that serve critical industry sectors. By incorporating HAPS technology, we enhance our position as a comprehensive provider of strategic industry solutions."

This Series C investment announcement follows the success of Sceye's 2024 flight program, where the company achieved a significant milestone by demonstrating perpetual flight capabilities while staying over an area of operation. The test flight proved that Sceye's HAPS can operate continuously, with solar energy powering the system during daylight hours and battery storage ensuring overnight flight.

This achievement signifies the advent of a new infrastructure layer between terrestrial and space systems. It highlights the transformative potential of HAPS technology in expanding connectivity access, managing disaster response, monitoring environmental changes, and detecting climate-related disasters in real time. 

About Sceye
Founded in 2014, Sceye is an aerospace company dedicated to advancing stratospheric technology to connect people and protect the planet. Sceye leads the High-Altitude Platform Systems (HAPS) industry, focusing on universal connectivity, climate monitoring, natural resource management, and disaster prevention. 

About Mawarid:
Established in 1968, Mawarid Holding Company (MHC) is a leading Saudi corporation with a diverse portfolio spanning, but not limited to,  ICT, satellite, and digital solutions. MHC has been a player in the global communications landscape, including its role as a founder and shareholder in Iridium Communications Inc. (Nasdaq: IRDM) since the early 1990s and its operations in various ICT and media sectors across the Middle East (e.g., Salam, TLS, ATSS, "Noorsat: Geo-operator").

Media Contact:
Jasmine Wallsmith
jw@sceye.com

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Sceye Secures Funds in Series C Round Led by Mawarid Holding Company

Exquisite tomato dishes for your festive table: stuffed tomatoes, ricotta gnocchi with zucchini and tomatoes, turkey in tomato sauce, tomato cheesecake.

TOKYO, Dec. 22, 2024 /PRNewswire/ -- Every self-respecting holiday has its special dishes. Red, festive, intense and tasty. This is the delicious Christmas offered by the international project "Red Gold Tomatoes from Europe", promoted by ANICAV (the Italian Association of Canned Vegetables Industries) and co-funded by the European Union, which promotes the export and consumption of Italian preserved tomatoes to Japan. From appetizers to desserts, the tomato is the star. "We aim to promote canned tomatoes during the Christmas period," explains Giovanni De Angelis, Director General of ANICAV. "We're highlighting the most important aspects of sustainability, health benefits and taste. About 75% of Italian production of canned tomatoes is destined for export. We aim to promote consumption, increasing the market share in the target market of the project:  Japan"  And here is that special "red gold" menu: stuffed tomatoes, ricotta gnocchi with zucchini and tomatoes, turkey in tomato sauce, tomato cheesecake.

Perfect Christmas dishes create a festive atmosphere and bring pleasure to the whole family. Pulp or peeled, fresh or dried, canned tomatoes are among the most versatile and widely used foods in the world and a precious ingredient in holiday recipes whether for soups and sauces, or even desserts and ice creams. There are hundreds of varieties, each with their own characteristics of flavour, sweetness, acidity, colour and texture. At Christmas, the fresh flavour of tomatoes is a must, and you can let your imagination fly with intriguing combinations, adding spices and herbs. Tomatoes can be used in delicious appetizers, salads, with pasta, rice, to prepare rich side dishes, and even in desserts to finish holiday meals in style. The festive menu proposed by "Red Gold Tomatoes from Europe" is tasty and good for you. And so, off to the kitchen to cook up a storm with this delicious menu, and our wishes for a Merry Christmas!

Appetiser
Stuffed tomatoes - Red Gold Tomatoes From Europe

First course
Ricotta gnocchi with zucchini and tomato sauce - Red Gold Tomatoes From Europe

Main
Turkey roulades in tomato sauce - Red Gold Tomatoes From Europe

Dessert
Mini tomato ricotta cheesecakes - Red Gold Tomatoes From Europe

For more information about Red Gold from Europe, visit our website https://redgoldfromeurope.jp or follow our social media accounts:

Facebook: https://www.facebook.com/redgoldjapan

Instagram: https://www.instagram.com/redgoldjp/

X: https://x.com/RedGoldJapan1

YouTube: https://www.youtube.com/@redgoldfromeuropejp

Photo - https://mma.prnasia.com/media2/2585510/Gnocchi.jpg?p=medium600
Logo - https://mma.prnasia.com/media2/2186813/VISUAL_ASIA.jpg?p=medium600
Logo - https://mma.prnasia.com/media2/2186815/Footer_JP.jpg?p=medium600

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

From appetisers to desserts, a "tomato red" Christmas by "Red Gold Tomatoes from Europe" is served up for Japanese diners

From appetisers to desserts, a "tomato red" Christmas by "Red Gold Tomatoes from Europe" is served up for Japanese diners

From appetisers to desserts, a "tomato red" Christmas by "Red Gold Tomatoes from Europe" is served up for Japanese diners